Economic activity continued to expand in October and November, according to the Federal Reserve Board’s latest report on regional economies (known as the “beige book”). Employment gains were widespread across all 12 districts during the six-week reporting period.
Several districts reported broad-based growth in demand for staffing services, noting an increase in temporary staffing as well as an increase in temporary-to-permanent job transitions. Most districts reported little change in holiday hiring relative to last year. Upward wage pressures continued to be evident for certain types of occupations and for skilled workers.